Overstatement/understatement of profits, auditors qualifications, method of income recognition, inventory valuation and depreciation policies, off Balance sheet liabilities an so on.
Sources of future earnings growth, profitability ratios, earnings in relation is fixed income charges and so on.
Adequacy or Cash Flows
In relation to debt and working capital needs, stability of cash flow capital spending flexibility, working capital management and so on.
Alternative financing plans in times of stress, ability to raise funds, a deployment potential and so on.
Interest and Tax Sensitivity
Exposure to interest rate changes, tax law changes and hedge against interest rates and so on.